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Rosenberg: Here's 13 Signs The US Economy Has Hit A Brick Wall

More and more, it looks like bearish Gluskin-Sheff economist David Rosenberg could be vindicated..

The truth of the matter is that we are nowhere near the recovery agencies like the Federal Reserve told us we were at back in April. Retail sales are falling, the housing market isn't even close to being fully recovered, and the Philly Fed Index's last update was very weak.

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Another one from
David Rosenberg: Yes, The DOW Could Drop To 5,000


Resistance prevailed. My sense is that the market will break to the downside, and for three reasons:

1. Even if a double dip is avoided, the market is not priced for a growth relapse.

2. The intense volatility in the major averages over the past three months is consistent with the onset of a bear phase.

3. Bob Farrell believes a test of the March 2009 lows is likely. I don’t think anyone is in a position to debate five decades of experience, not to mention his track record. Louise Yamada, a legend in her own right, not to mention the likes of Bob Prechter and Richard Russell, are on this same page. Notice how none of them work at a Wall Street bank.
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source: businessinsider